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Truck Leasing Pros and Cons Kihei HI

A truck lease offers cost advantages for personal use, as well as tax and accounting advantages for business owners. Learn the difference between personal and commercial truck leasing.

Aamerican Self Storage
(808) 891-8400
115 East Lipoa Street
Kihei, HI
 
Kihei Kalama Village Self Storage
(808) 879-4477
1945 South Kihei Road
Kihei, HI
 
U-Haul CO - Independent Dealers- Kihei
(808) 891-0961
155 Halekuai Street
Kihei, HI
 
Pacific Shelving Company Admin Office
(808) 871-6601
150 Hana Hwy
Kahului, HI
 
Jay's Auto Top Shop
(808) 877-0344
347 Ano Street
Kahului, HI
 
Ohana Movers Inc.
(808) 891-8950
1215 South Kihei Rd
Kihei, HI
 
Uhaul Co Independent Dealers Kihei
(808) 879-4477
1941 South Kihei Road
Kihei, HI
 
Smooth Systems
(808) 876-0914
780 Lower Kula Road
Kula, HI
 
Filter Queen of Maui
(808) 877-0344
347 Ano Street
Kahului, HI
 
Island Movers Inc
(808) 871-7755
181 Alamaha Street
Kahului, HI
 

Truck Leasing Pros and Cons

To lease a truck for personal use is no different than leasing a car or SUV. A lease offers lower monthly payments than buying with a loan, and may not require a down payment. There are also savings on sales tax in most states. Therefore, leasing may cost you less to get into a new truck, and can save you on monthly cost as well.

However, before making a decision about whether to lease or buy, understand that leasing is best for people who drive no more than about 15,000 miles per year, like to have a new truck every 3-4 years, take good care of their vehicles, don't care about building ownership equity, and have a stable lifestyle such that they won't need to end the lease early.

Ending a lease early can be very expensive. It's more than simply paying termination fees. It means paying the balance of the lease, considering the wholesale auction value of the truck. In most cases, ending a lease early is very impractical. Therefore, if you think you might not be able to complete a lease, then don't lease.

If you plan on using your truck for heavy duty or rough utility purposes, such that the body and bed might be badly damaged or scratched, you might not want to lease. The reason is you may have to pay for those damages at lease-end when you return your truck to the lease company. Any damages beyond "normal" wear and tear can result in charges to you. Of course, you could get the repairs done yourself prior to returning your leased truck. Or...

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